Security breaches really do expose the good, the bad and the ugly sides of IT Security within an organisation. Are you motivated to invest time and budget into security projects, or are you resigned to a more reactive approach?
Large sized business (enterprise) have so far spent an average of £277,000 on IT Security in 2019 (UK Government Cyber Breaches Survey 2019). They know, probably more than most, that the source and types of threat continue to change on a daily basis and these investments are to try and keep them ahead of the attackers. On the flip-side, according to the same report, three in in ten businesses won’t spend on cyber security this year – let’s look at what’s working well and what problems we still need to fix, in order for investment to grow.
A better correlation between data and risk
In our view, small business owners like yourself have a better understanding of the risks involved with data breaches. That might have something to do with increased regulation such as the GDPR, which forces you to understand the severity of losing different types of data and modelling risk; Is it a privacy breach on your part or does it impact the fundamental systems required to run your business, as we saw in the Norsk Hydro breach?
To eliminate the risk of data breaches right from the outset, other small businesses are turning to data classification solutions as a way to ensure that valuable information is not distributed inappropriately. Vendors such as Boldon James help customers to identify the context as well as content of data- to model and understand the impact of loss, way before the breach itself.
Your are the biggest gap in your own Security
We all know that Human error is one of the main causes of a breach, but a lack of continued management activity also plays a big part in why you might not be winning. You can’t manage what you don’t see. If executive teams continually lose sight of the risks involved, then perhaps a lack of management reporting is to blame?
In fact, according to a 2019 survey by the Enterprise Strategy Group, 39% of executives and directors want security status reports for cyber-risk associated with end-to-end business processes and 35% want better detail on the ROI of their security investments and planned purchases.” We feel that more should be done to bridge the gap between technical capabilities and management perception.
New Technology = New Security Requirements
We are seeing more demand from small businesses on the security front inline with the increase in businesses utilising cloud servers to reduce costs; and new technologies proliferating the market- with more to come from IoT, 5G networks and Service-driven projects in the next 12 months.
Talk to us about projects and services that will enable you to be more competitive in this digital landscape. Speak to Kyle and book a service review on his personal line – 07803 823710 or to find out more head over www.destinationcloud.co.uk